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Gold Mining

All articles tagged with #gold mining

Northern Star board slams Gold Fields bid as 'opportunistic' amid Elliott pressure

Australia’s largest gold miner, Northern Star Resources, has unanimously rejected a takeover proposal from South Africa’s Gold Fields, labeling the offer as undervalued and opportunistic. The bid, which valued Northern Star at approximately A$38.7 billion, included a mix of cash and Gold Fields shares. Despite the rejection, Northern Star’s shares rose significantly on Monday, while Gold Fields shares fell sharply. US hedge fund Elliott Management, which previously urged Northern Star to seek a sale, is now calling for the board to resume talks with Gold Fields.

via CNBC|

#business #elliott-management #gold-fields

geopolitics-and-commodities12 days ago•5 min saved

Beijing secures 11% of Nicaragua’s land for gold mining as US influence wanes

Nicaragua has granted 80 mining concessions to Chinese firms since 2023, covering 1.4 million hectares or 11% of its territory. This move deepens Beijing’s strategic foothold in the gold-rich Central American nation, which has received over $1 billion in Chinese financing. The expansion occurs as the US seeks to limit non-Hemispheric influence in the region, while environmental groups warn of potential ecological damage from unregulated extraction.

via ft.com|

#china #daniel-ortega #geopolitics-and-commodities

world4 months ago•2 min saved

Five rescued from flooded Laos cave; two still missing

Rescue teams in Laos have found five villagers alive after they were trapped for a week inside a flooded cave while searching for gold and wildlife; two others remain missing as divers navigate narrow, water-filled passages.

via BBC|

#cave-rescue #flooding #gold-mining

science4 months ago•87 min saved

Ancient Crater, Modern Gold: Lake Bosumtwi Glitters Amid Ghana's Mining

A 2015 Landsat image shows shimmering gold veins around Ghana's sacred Lake Bosumtwi, formed by a million-year-old meteor impact that created a rampart crater; subsequent satellite views, including a 2024 image, reveal intensified gold mining around the lake, illustrating the juxtaposition of a geologic landmark with modern resource extraction.

via Live Science|

#ghana #gold-mining #lake-bosumtwi

environment1 year ago•4 min saved

Gold Miners Trigger 'Carbon Time Bomb' in Amazon Rainforest

Gold mining in Peru's Amazon is rapidly destroying peatlands, which are crucial carbon sinks, leading to significant releases of stored carbon and threatening biodiversity, with potential emissions reaching millions of tons if current trends continue.

via Earth.com|

#amazon-rainforest #carbon-emissions #environment

environment1 year ago•5 min saved

Gold Rush Threatens Black Hills with Potential Open Pit Mines

The potential reopening and expansion of gold mining in South Dakota's Black Hills, driven by rising gold prices, could bring economic benefits but poses significant environmental and cultural risks, including landscape alteration, water contamination, and opposition from Native tribes who consider the land sacred.

via CBS News|

#black-hills #environment #environmental-impact

environment1 year ago•5 min saved

Potential Gold Rush Threatens Black Hills with Open Pit Mines

A new wave of gold mining interest in South Dakota's Black Hills, driven by high gold prices and recent policy changes, threatens to alter the region's landscape and sacred sites, sparking opposition from Native tribes and environmentalists concerned about ecological damage and cultural preservation.

via NewsNation|

#black-hills #economic-development #environment

science1 year ago•4 min saved

Global Gold Reserves: An Overview

Humans have mined approximately 206,000 to 238,000 tons of gold, with significant reserves still available in Earth's crust, but most of the planet's gold is in the core, making the total amount much larger and largely inaccessible.

via Live Science|

#earths-crust #geology #gold-mining

economy1 year ago•4 min saved

El Salvador's $3 Trillion Gold Dilemma: To Mine or Not to Mine?

El Salvador is reconsidering its 2017 ban on metal mining as President Nayib Bukele claims the country has gold reserves worth $3 trillion, potentially transforming its economy. This shift comes amid economic challenges, with Bukele arguing that mining could significantly boost GDP. However, the proposal faces opposition from environmentalists and local communities due to potential ecological damage. The debate highlights the tension between economic opportunity and environmental protection, as El Salvador weighs the benefits of exploiting its mineral wealth against the risks.

via The Jerusalem Post|

#economic-growth #economy #el-salvador

history1 year ago•3 min saved

Newton's Wealth Tied to Slavery, Claims Author

A new book, 'Ricardo’s Dream,' reveals that Sir Isaac Newton, renowned for his scientific contributions, had significant financial ties to the transatlantic slave trade during his tenure as master of the mint at the Bank of England. The book claims Newton benefited from gold mined by enslaved Africans in Brazil, which was turned into currency at the bank, significantly contributing to his wealth. This connection highlights the broader involvement of early 18th-century British finance with slavery, though it does not diminish Newton's scientific legacy.

via The Guardian|

#bank-of-england #gold-mining #history

finance1 year ago•1 min saved

MicroStrategy Surges as Market Cap Outpaces Major Gold Miners

MicroStrategy Inc.'s stock rose by 3.36% in pre-market trading as Bitcoin's price surged past $93,000, boosting the company's market value to $96.732 billion, surpassing the combined worth of Newmont Corporation and Barrick Gold. This increase follows MicroStrategy's recent acquisition of 51,780 Bitcoin. The company's strategy, led by Michael Saylor, focuses on Bitcoin as an inflation hedge.

via Benzinga|

#bitcoin #finance #gold-mining

business1 year ago•1 min saved

Mali Secures $160M Settlement in Gold Mining Dispute with Australian Firm

Australian mining company Resolute Mining has agreed to pay Mali's military government $160 million to settle a tax dispute after the company's British CEO and two other staff were detained. The payment will be made in installments, with $80 million paid immediately. The detentions are part of Mali's broader efforts to increase its share of income from foreign mining operations, following a coup in 2021 and a new mining code that allows greater state and local investment.

via BBC.com|

#business #gold-mining #mali

business1 year ago•2 min saved

Resolute Mining CEO Detained in Mali, Shares Plummet

Resolute Mining's shares plummeted by 33% after its CEO was detained in Mali amid the military government's push for a larger share of resource revenues. The detention occurred during discussions about the Syama gold mine, as Mali seeks to renegotiate mining contracts following a 2020 coup. This move is part of a broader trend in West Africa, where countries are asserting more control over mineral production. Resolute is working towards a settlement to ensure the safety of its employees and the future of its operations.

via Yahoo Finance|

#business #ceo-detention #gold-mining

business1 year ago•2 min saved

Resolute Mining Shares Tumble as CEO Detained in Mali

Shares of Resolute Mining fell over 30% after its CEO and two employees were detained in Mali amid disputes over tax claims exceeding $100 million. The Malian government is pressuring mining companies to renegotiate contracts, following a 2022 audit and new mining code aimed at increasing state revenue. This incident highlights the growing tensions between mining firms and the military-led government in Mali, which has been taking a tougher stance on foreign mining operations.

via Financial Times|

#business #executive-detention #gold-mining

environment2 years ago•8 min saved

"Restoring the Ravaged Amazon Rainforest in Peru: A Success Story"

In the Madre de Dios region of Peru, a nonprofit group called Pure Earth is working with miners to restore the Amazon rainforest that was devastated by illegal gold mining. By planting saplings and using techniques to regenerate the soil, they are successfully reviving the once-denuded landscape. This effort not only aims to restore the forest but also mitigate the impact of mercury contamination caused by the mining. Pure Earth is also teaching miners responsible gold extraction methods to reduce environmental harm, offering hope for a sustainable future in the region.

via NPR|

#amazon-rainforest #environment #environmental-remediation